Vinny Lingham’s Civic takes next step after R430-million token sale

Having sold $33 million (R430 million) in tokens – designed to provide purchasers with access to an identity-verification ecosystem – Civic is preparing to launch several strategic partnerships to promote widespread adoption.

Alongside its recent token sale, Civic set aside 33% of the 1 billion tokens it created to distribute to partners.

Civic has already allocated over 20 million tokens to more than 20 partners in return for promoting adoption of the Civic ecosystem and building network effects.

“Encouraging wide distribution is something that we have really focused on, because we are trying to build a network effect,” said Civic CEO Vinny Lingham.

“These partner sites, including WikiHow, have over 250 million monthly active users across their various properties and have committed to implementing Civic by the end of 2017.”

Civic partners

The Civic token sale was one of the most widely-distributed sales to date, with over 50,000 prospective purchasers and approximately 8,000 successful purchasers worldwide.

“The success of the token sale has attracted a large pipeline of new and diverse potential partners, ranging from the public sector to companies large and small,” said Lingham.